Agree that "Project one" has been an abysmal farce under DT. DT can keep his record achievement numbers of "GMV up 8,850% on FY2021" and "cases shipped up 500% on the year prior" to himself - What a legend in his own mind. Imagine hanging your hat on numbers based on zero.
A quote from DT "From my perspective (LOL nice opening), the underlying performance of our revolutionary platform has never been better (WOW). As announced in our most recent investor presentation, the company is on track for a record revenue and GMV quarter. The savings and synergies that we have achieved from Project One are flowing through, helping to reduce our losses and cash burn (you're amazing DT! thanks!). Based on this I feel that it is a fitting time for me to hand the batten (you got booted out IMO) onto someone new to lead this amazing company (so why'd you sell into all-time lows?) through the next stage of its journey."
Moving forward from that fact, it's great to see Steve Voorma shirt fronting the situation and challenges at hand:
It's early days for his tenure but he's found areas that need an overhaul, and he appears capable to do it, Voorma identified these areas below and I've reordered the number 1 issue for me:
Rapidly reduce our operating expenses, as seen in multiple duplications (!!!! wtf DT) and inefficiencies that currently exist through our operating environments;
Improve our internal process and systems for enhanced operating efficiency;
Realise improvements in our 3rd party supplier network; and
Foster an enhanced performance culture to drive accountability and learnings. (Everyone's probably demoralised by the continual BS they've been spun internally as well).
Time will certainly tell, but at this point in the DW8 journey I won't be selling. Worst case scenario I can use these losses to improve material gains on other stocks. GLTAHs and DYOR.
DW8 Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
(20min delay)